Guest Post by BlockchainReporter: HNT Price Prediction: Will Helium Token Recover Amid Market’s Turmoil?

Imagine you’re out on a road trip in your electric vehicle, enjoying the freedom of the open road, but suddenly you realize you’re out of Wi-Fi range. Your vehicle’s monitoring systems, which rely on internet connectivity, suddenly become useless. Or maybe you’re out for a run, using a health checker device to track your progress, but you’re too far from your home Wi-Fi to stay connected. What do you do? That’s where Helium Network (HNT) comes in. It’s a game-changing ecosystem that’s designed specifically for the Internet of Things (IoT), allowing devices to stay connected even when traditional Wi-Fi coverage isn’t available. Helium is taking the world of blockchain technology by storm with its revolutionary network, which rewards users in its native cryptocurrency, HNT, for plugging in a Hotspot. This innovative network was initially designed with battery-powered devices in mind, which need to send small amounts of data over long distances. However, the Helium token has witnessed a severe plunge in recent months, leaving investors anxious and frustrated about its upcoming trend. Hence, our HNT price prediction seeks to bring you its future potential with advanced technical analysis to guide your investment plan amid the market’s turmoil.

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Helium (HNT): A Quick Introduction

The Helium Network offers worldwide and distributed coverage for IoT devices with LoRaWAN capability through a long-range wireless network. The network consists of Hotspots, which offer public network coverage and receive compensation in Helium’s native cryptocurrency, HNT. The integration with the Helium blockchain serves as an incentive for operating Hotspots.

Amir Haleem, Sean Carey, and Shawn Fanning created the Helium network in 2013 with the goal of developing the world’s first decentralized peer-to-peer wireless network, also known as the people’s network. Their aim was to simplify the process of connecting devices to the internet, which had previously been a challenge without the use of blockchain technology.

The Helium network is widely regarded as a ground-breaking decentralized blockchain-based network for Internet of Things (IoT) devices. Hotspots, which are a combination of a wireless gateway and a blockchain mining device, serve as the nodes on this platform. Users can mine and operate nodes simultaneously, resulting in limitless rewards in Helium’s native cryptocurrency token, HNT. Let’s take a look at Helium’s current market details to better clarify our HNT price prediction.

HNT: Roadmap And Features

While most blockchains employ either proof of work or proof of stake protocols for cryptocurrency mining, Helium has its own unique system known as proof of coverage. This is due to the network’s reliance on dependable coverage for its users and the need for a distinct method of rewarding participants.

The proof of coverage mechanism validates whether a hotspot is offering network coverage for its location by considering factors such as radio frequency strength, speed, and distance. Challenges are utilized for proof of coverage, where hotspots test each other’s radio frequencies. Millions of challenges have been conducted via the Helium blockchain, and each new challenge records additional data regarding the network’s overall quality.

The Helium network employs a distinctive feature known as Proof-of-Location, which allows for the accurate interpretation of a device’s location without the need for power-draining or costly satellite installation. This digital currency network relies on high-speed wireless internet service.

By utilizing this technology, devices are capable of offering a precise and secure representation of their location, which is subsequently recorded on the blockchain.

The whitepaper states, “The Helium network is a decentralised wireless network that enables devices anywhere in the world to wirelessly connect to the internet and geolocate themselves without the need for power-hungry satellite location hardware or expensive cellular plans.”

It further states, “Satisfying the design requirements of being permissionless, decentralised, byzantine fault-tolerant, based on useful work, and with a very high-rate, censor-proof transaction mechanism.”

In October 2021, Helium announced its partnership with the internet service behemoth, Dish in an effort to bring its decentralized network to the masses. This collaboration enabled Dish Network users to operate Helium nodes and receive rewards for sharing their 5G network with others in their vicinity.

Helium Price Prediction: Price History

Investors should have an understanding of HNT’s past performance before delving into technical analysis to make informed predictions about its future price trends. Nevertheless, it’s crucial to acknowledge that relying solely on price history is inadequate to anticipate Helium’s future price movements.

The first Helium block was mined in July 2019, but it took over a year for the price to surpass the $1 threshold. In August 2020, the price of HNT experienced a surge as Helium introduced data credits, which is another token based on the Helium blockchain.

Data credits are part of a dual-token system, where their production is only possible by burning HNT. The primary purpose of data credits is to pay for using the Helium network.

The rollout of data credits turned out to be a significant milestone for Helium. Following the announcement, the price of HNT skyrocketed from $0.67 on 11 August 2020 to $1.77 on 15 August 2020. This positive momentum continued into September when the coin surpassed the $2 threshold after the ratio of data credits to HNT was updated via a Helium Improvement Proposal (HIP).

In November 2020, the Helium community approved another Helium Improvement Proposal (HIP), which established a maximum supply limit of 223 million for HNT to ensure its scarcity. This update also introduced the concept of halving, where the amount of Helium that can be mined each month is reduced by half every two years.

Although the price of HNT had fallen below $1 on 31 October 2020, it experienced another surge following the announcement of the supply changes. Two days after the news, the price skyrocketed to $1.80 on 21 November 2020, offering a glimpse of what was yet to come.

With the price starting to rise in January 2021, it reached over $5 in March. On 14 April 2021, Helium passed another Helium Improvement Proposal (HIP) that enabled it to offer 5G coverage, making it the first consumer-owned 5G network in the world.

Following the announcement of 5G coverage, the price of HNT surged to $18.66 on 6 April 2021 and peaked at $19.51 on 28 May. Although it dropped below $15 in the next two months, it later broke through the $20 barrier in August, a significant milestone for the currency.

In August 2021, several significant events occurred for the Helium blockchain network. The first halving event occurred on 1 August, cutting the amount of mineable HNT from 60 million to 30 million per year. Following this, the network raised $111m through a token sale led by Andreessen Horowitz, a US-based venture capital firm. This influx of capital was intended to finance the rollout of Helium’s 5G network, and it had a positive impact on the price of HNT, which climbed to $24.81 by the end of the month.

The HNT price experienced an outstanding surge in November 2021. Starting at $28.26 on 1 November, it quickly escalated and peaked at an all-time high of $55.22 on 12 November. However, by 25 November 2021, the HNT price had retreated to hover around $43.

In a funding round on 18 February 2022, HNT raised $200m with participation from Tiger Global, an American investment firm. Following the funding round, the token saw some price recovery and reached its peak at $25.73 on 28 February, but eventually lost those gains and was trading at $21.66 on 8 March. However, since then, the Helium token has witnessed a massive price plunge following Terra’s ecosystem crash, forming a bottom near $7.1 on 27 May. HNT price extended its bearish rally as it touched the $1 mark due to FTX’s collapse in November.

HNT Price Prediction: Technical Analysis

Despite Helium’s recent strong performance, it may still encounter significant challenges due to the general bearish trend in the cryptocurrency market. Moreover, the recent collapse of the crypto bank SVB and the loss of the dollar peg by USDC have raised concerns across the market, resulting in large sell-offs by major investors and a pessimistic outlook for HNT’s price. Additionally, the regulatory scrutiny from the Securities and Exchange Commission (SEC) towards the cryptocurrency industry is uncertain and may cause a market crash anytime. Our HNT price forecast employs advanced technical indicators to navigate the current market conditions and provide investors with a comprehensive analysis of the risks and opportunities associated with investing in Helium.

CoinMarketCap reports that the current price of the HNT token is trading at $1.67, showing a severe downturn of nearly 15% from yesterday’s price. Our technical analysis of HNT suggests that this cryptocurrency could soon display bullish signals, leading to new highs as it may experience a significant recovery rally in line with the overall bullish trend led by Bitcoin following the release of CPI data. Looking at the daily price chart, Helium is struggling to trade above its EMA-20 trend line at $2.24, facing sharp rejections near its immediate resistance level of $2. However, after forming a low near $1.56, the HNT token has taken support and is making an effort to surge above the 23.6% Fib level. The EMA-50 trend line has dropped significantly from its previous resistance level of $2.8 to $2.4, hinting that HNT tokens are trading within a consolidation level dominated by bears. HNT is currently in an extreme fear zone due to the SEC’s crackdown on crypto, creating a FUD situation for investors. The Balance of Power (BoP) indicator is trading in a highly bearish region of 0.51, suggesting that the bullish momentum may extend if the HNT token breaks above its consolidated pattern.

The popular RSI-14 indicator is trading on the verge of its selling region at the level of 29, which shows that the bottom has already been formed, and the HNT token may spark fresh surges in the next few days. Moreover, the MACD line has stabilized near the signal line as it forms a bullish divergence pattern with the trading volume. However, the SMA-14 does not promise a bullish trend as it is slowly dropping below the midline at 30, which may trigger a short-term bearish retracement for HNT. If the Helium coin breaks above its resistance of $2, it may pave its upward road to its Bollinger band’s upper limit of $2.7, and if it manages to break its strong resistance of $3.4, it may attempt to go higher to EMA-200 at $4.1. Conversely, if HNT drops below the crucial support level of $1.4, a further bearish rally is expected, which may cause it to accelerate a sharp collapse and trade near its Bollinger band’s lower limit of $1.2. If Helium’s price fails to hold above $1, it may gear up for a more bearish bloodbath and trade near $0.98.

HNT Price Prediction By BlockchainReporter

HNT Price Prediction 2023

BlockchainReporter’s current HNT price prediction for the upcoming years is optimistic. In 2023, we anticipate a bullish trend for Helium with a maximum price of $3.39, a minimum value of $2.98, and an average market price of $3.09. The frequent updates and new developments of HNT could influence the price levels of the cryptocurrency.

HNT Price Prediction 2024

Our HNT price prediction for 2024 suggests that Helium is predicted to reach a maximum price of $5.17, with an average forecast price of $4.53 and the lowest possible price set at $4.38. The token’s adoption and market price could increase if HNT establishes new partnerships with other major blockchain networks, making it easily accessible to investors.

HNT Price Prediction 2025

By the end of 2025, the maximum HNT cost price is anticipated to be $7.63, with a minimum price of $6.11 and an average price of $6.34. With a higher adoption of blockchain-based applications in the future, Helium could see an enormous increase in price.

HNT Price Prediction 2026

For 2026, Helium is expected to have a sustained bull market, leading to a maximum price of $10.89 and a minimum value of $9.07, with an average market price of $9.38.

HNT Price Prediction 2027

According to the HNT token price forecast for 2027, investors could record huge profits, as the cryptocurrency could reach a peak price of $16.07, with an average price of $14.04 and a minimum possible level of $13.66. HNT’s reduced fees, transparency, security, and faster transactions could contribute to a surge in price.

HNT Price Prediction 2028

In 2028, Helium could trade between a minimum price value of $20.09 and a maximum price value of $23.57, with an expected average value of $20.80. Being one of the best-performing digital coins in the crypto market, there would be a huge demand for the token in the future, leading to a massive increase in price.

HNT Price Prediction 2029

For 2029, Helium is expected to trade at a maximum value of $35.03, maintaining an average trading value of $31.11 and a minimum value of $30.27 throughout the year.

HNT Price Prediction 2030

Our HNT price forecast for 2030 expects Helium to attain a maximum level of $52.14, with a minimum level of $45.29 and an average trading price of $46.54.

HNT (Helium) Price Prediction 2031

The helium price forecast for 2031 indicates an overall bullish trend leading to a peak price of $76.98, with an average price of $64.40 and a minimum price of $62.08. The digital coin’s potential could attract many users, influencing these high prices.

HNT Price Prediction 2032

Finally, for 2032, HNT is expected to have a fully bullish year with loads of upside fluctuations, leading to a maximum price of $107.49, an average trading price of $94.49, and a minimum price of $91.91.

HNT Price Prediction By Industry Influencers

Digital Coin Price’s Helium price prediction gives a bullish outlook for the token’s future potential. The website expects the HNT price to surpass the $4.32 mark in 2024. As the year progresses, Helium is expected to maintain a minimum fee of $4.17 while also having the potential to reach a maximum level of $4.49.

In 2032, the HNT price is anticipated to surpass the $37.14 mark, with a predicted minimum value of $36.52 and a maximum value of $37.59 by the end of the year.

According to CryptoPredictions.com’s HNT price analysis, the Helium token is anticipated to begin trading at $2.325 and end the month at $2.362. Throughout the month, the projected maximum price for HNT is $3.394, while the minimum price is $2.308.

Is HNT A Good Investment? When Should You Buy?

Despite a sluggish start, Helium has experienced rapid growth, increasing from around 7,000 hotspots in August 2020 to over 25,000 by April 2021. However, the network is still in its nascent stages, with strong representation limited to major urban centers in the United States and Western Europe. Additionally, Asia presents significant growth potential as hotspots have only recently emerged in China. Hence, it can be concluded that the Helium token is a good investment option in the long term. However, our HNT price prediction advises to invest in this token near $1.5.

Conclusion

Helium Network is a decentralized network of wireless hotspots that provides an alternative to traditional wired internet or mobile data services. The network is powered by cryptocurrencies, and users who take part in the network receive rewards for their participation. HNT is earned by hotspots that provide wireless coverage and validate data transfers on the network.

However, despite its robust potential, the HNT token has dropped more than 10% in the last two days following Binance’s announcement of delisting the token on 21 March. The Helium Network is expected to experience long-term growth as its platform expands and adoption increases. This growth is likely to drive up the value of the coin in the future. However, investors are advised to do their own research before investing in the volatile crypto market.

FAQ

What is the Helium Network?

The Helium Network is a decentralized wireless network that enables low-power devices, such as sensors and Internet of Things (IoT) devices, to connect to the internet without relying on traditional cellular or Wi-Fi networks. The network is powered by nodes that provide coverage and earn HNT tokens for their efforts.

What is HNT?

HNT is the native cryptocurrency of the Helium Network. It is used to incentivize node operators to provide coverage and maintain the network, as well as to pay for transaction fees and other network-related costs.

How do I earn HNT?

You can earn HNT by providing coverage to the Helium Network through your hotspot device. The amount of HNT you earn depends on the amount of coverage you provide and the number of devices that connect to your hotspot. You can also earn HNT by participating in network governance activities, such as voting on proposals or running a validator node.

Source: HNT Price Prediction — Will Helium Token Recover Amid Market’s Turmoil?

HNT Price Prediction: Will Helium Token Recover Amid Market’s Turmoil?

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